The Central Bank of Iran on Tuesday unveiled a new platform ‘MahCheck’ that allows withdrawal of money from defaulters' accounts in other banks.
Speaking at the unveiling ceremony, CBI Governor Ali Salehabadi said the system was created to implement the last and final phase of the check law. It is designed to help raise the reliability of checks as financial instruments, the bank's website quoted him as saying.
"Raising the credibility of checks can and should result in improving the business climate in particular and the economy in general," Salehabadi said.
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